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Pre - Market Analysis (24th May 2021)

  1. U.S Markets closed mixed on Friday.
  2. Dow Future's are now trading higher.
  3. SGX Nifty is lower by 40-50 Points.
  4. Our Market's witnessed a tremendous rally on Friday.
  5. Bank Nifty in particular witnessed huge short covering.
  6. There were many traders who went short on last Expiry ie , Thursday as Nifty and Bank Nifty closed more than a percent lower.
  7. All these shorters were taken to cleaners on Friday.
  8. In the past SBI results have changed the Market sentiment.
  9. Friday wasn't any different.
  10. SBI posted stellar results and carried Bank Nifty with itself.
  11. Nifty is just 2% away from its all time highs.
  12. Bank Nifty is away 7-9% from its all time highs.
  13. There's a catch up rally going on in Bank Nifty now.
  14. There is a good possibility that for this Expiry we might witness fresh highs on Nifty.
  15. There was a heavy Put writing taking place on Friday.
  16. Put option Premiums were already down by 60-70%.
  17. 15100 PE & 15000 PE in Particular have added high open interest.
  18. For this Expiry 15000 is a strong support.
  19. Any dips towards this level is a buying opportunity.
  20. Bank Nifty has a support near 34300 and next support near 34000.
  21. Resistance levels are near 35k for Bank Nifty.
  22. SBI is likely to continue positive momentum which keep strengthen Bank Nifty.
  23. Also Remember that this is the Monthly expiry week so things might turn Volatile.
  24. India VIX fell drastically on Friday and closed near 19 for the first time in 2021.
  25. Nifty might Trade between 15060 to 15280 today.


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Pre - Market Analysis (3rd November 2022)

U.S Markets closed lower Yesterday. Right now Dow futures are higher. SGX Nifty is down 150 points. Asian markets are lower. Yesterday there was a Fed event in U.S Markets. General expectations were an increase of 75 basis points  Exactly the same happened and at 11.30 markets recovered sharply from lows  Then at 12 as Fed governer started speaking , it was a complete Hawkish statement. This induced lot of volatility and also selling pressure. U.S Markets closed at the low point of the day. Dow Jones fell 500 points. Although all this happened, U.S VIX didn't shot up It stayed flat. HDFC Bank ADR was down 2% yesterday. This could bring pressure in Bank Nifty. However I feel yesterday was an over reaction in U.S Markets. Markets should stabilize from today. 18000 is a strong support for the day. Previously as well many times Nifty went above 18k but couldn't sustain. Nifty might Trade between 17900 to 18150 today.